Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3323 Lee Hwy Bristol, VA 24202

    Sponsored
    For Sale
    $595,000

    LAND - Bristol, VA

    Lot size:
    1.63 Acres
    Days on Market:
    48
    Last Refresh:
    Feb 21 at 2:06 pm

    Property Features for 3323 Lee Hwy

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    189 A 17 13a
    Lot size
    1.63 Acres

    Utilities

    Utilities
    Water Available
    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Garrett Addington
    Garrett Addington

    The Addington Agency Bristol (423) 845-5800

    Listing agent Garrett Addington (423) 646-1060 License #337697

    Listing date Jan 5, 2026

    MLS# 9980340

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Commercial Land in Prime Location

    This 1.63+/- acre commercial property is positioned in the heart of town, enjoying high exposure and visibility from Lee Hwy, with an ADTC of 20,000+ vehicles per day. The property offers flexible B3 zoning, promoting a variety of options for its use. The site is conveniently located near grocery stores, retail, restaurants, parks, and the Hard Rock Casino, with easy access to Lee Hwy and I-81. Situated in a thriving retail corridor, this property is suitable for many variations of retail, a QSR, hospitality, or a dealership, due to its flexible zoning and large level site. The property is leased through November 30th, 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bristol
    County
    Washington
    State
    Virginia
    Longitude
    -82.119923
    Latitude
    36.63306

    Nearby Similar for Sale

    • $3,000,000
      1.58 Acres

      Multi-Family Investment Opportunity, Bristol VA

      Multi-family property with 20 units, strong income potential.
      1740 Bonham Rd, Bristol, VA 24201
      View Details
    • $349,000
      1,337 SF

      High-Visibility Commercial Property in Bristol

      Visible location near Hard Rock Hotel. Automotive sales or other uses.
      2245 Euclid Avenue Ext, Bristol, VA 24201
      View Details
    • $155,000
      1,204 SF

      Bristol Mixed-Use Opportunity

      Renovated mixed-use building with expansion potential near downtown Bristol.
      105 Martin Rd, Bristol, VA 24201
      View Details
    • $299,900
      1,194 SF

      Remodeled Home Near Hard Rock

      Remodeled, furnished 3-bedroom home near Bristol Hard Rock Casino.
      2133 Veda Dr, Bristol, VA 24201
      View Details
    • $499,000
      2,817 SF

      Multi-Unit Investment Near Hard Rock

      Income-producing property near Hard Rock Casino with expansion potential.
      2412 Bradley St, Bristol, VA 24201
      View Details
    • $325,000
      1,860 SF

      Spacious Property Near I-81

      5.7 acres near I-81 with development potential.
      160 Creekside Trl, Bristol, VA 24201
      View Details
    • $399,900
      866 SF

      Commercial Property Near Future Casino

      Investment opportunity near Hard Rock Casino with B3 zoning.
      285 Gate City Hwy, Bristol, VA 24201
      View Details
    • $325,000
      1,710 SF

      Versatile Commercial Property in Bristol, VA

      Adaptable commercial space suitable for various professional uses.
      1941 Euclid Ave, Bristol, VA 24201
      View Details
    • $675,000
      3,634 SF

      Historic Downtown Commercial Property

      Adaptable commercial space in Bristol's historic downtown district.
      171 Piedmont Ave, Bristol, VA 24201
      View Details
    • New
      $224,900
      1,071 SF

      Euclid Avenue Professional Office Space

      Highly visible office space with expansion potential in Bristol, VA.
      1723 Euclid Ave, Bristol, VA 24201
      View Details
    • New
      $224,900
      1,071 SF

      Euclid Avenue Office Space Opportunity

      Professional office space with expansion potential near downtown Bristol.
      1723 Euclid Ave, Bristol, VA 24201
      View Details
    • $399,900
      Pending

      Three-Unit Multifamily Property in Bristol

      Well-maintained three-unit property with income potential in Bristol, VA.
      140 Harvest Rd, Bristol, VA 24201
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.63 acre commercial land with high visibility.
    Where is this commercial land located?
    The property is located at 3323 Lee Hwy Bristol, VA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: - Prime commercial site with high exposure and visibility from Lee Hwy.; - Flexible B3 zoning allows for various development options like retail, QSR, hospitality, or a dealership.; - 1.63+/- acre level site.
    (423) 646-1060
    Request Owner's contact information
    3323 Lee Hwy Bristol, VA 24202
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3323 Lee Hwy
    Bristol, VA 24202
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3323 Lee Hwy Bristol, VA 24202
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Garrett Addington
    Garrett Addington
    Real Estate License ID: 337697
    (423) 646-1060 (423) 845-5800
    Learn more
    Google sign-in failed. Please try again or use another login method.